Virginia pension reports 54% in private equity gains

The Virginia Retirement System (VRS) in reporting its fiscal year returns revealed gains of 54% in its roughly $16 billion private equity portfolio on top of strong double-digit gains.

The $102 billion retirement system surpassed the $100 billion mark for the first time in its history with overall net returns of 27.5%.

“We were in position to take advantage of conditions in the public equity, private equity and private credit arenas, as well as other asset classes,” said VRS Chief Investment Officer Ronald D. Schmitz. “We also kept focus on our long-term . . .

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